First Equity Line, Our Home Equity Line of Credit Program
Your home is one of your largest assets. Many homeowners enjoy the convenience of using their First Equity Line to fund virtually any major purchase. If you are in the market for a home equity line of credit, our First Equity Line may be right for you.
Make your home equity work for you!
Use your First Equity Line for any reason including:
How Much Available Credit Can You Borrow?
Simply take 85% of your home’s current appraised value and subtract from that amount the balance owed on your existing mortgage. In this example, you make entries in the white boxes for your own house. The calculations appear in the shaded boxes.
To apply for your First Equity Line, call us today (618) 234-9500. We look forward to being of service to you!
A free pamphlet, What You Should Know about Home Equity Lines of Credit is available in our lobby or may be viewed online at http://www.federalreserve.gov/pubs/equity/equity_english.htm. You may also obtain a copy by mail. Please send your name, address, and the number of copies requested to Publications Fulfillment, Board of Governors of the Federal Reserve System, Washington, DC 20551. To order online visit http://www.federalreserve.gov/pubs/order.htm.